Health Savings Account (HSA)

Keep high medical costs from obliterating your personal savings account. An interest-bearing health savings account (HSA) lets you save for medical expenses if you are covered under a high deductible health plan (HDHP).

Best of all, your money will stay with you throughout the years — even if you change careers. Make your health a priority and start saving today!

2017 offers individuals and families additional opportunities to save for current and future health care with a Health Savings Account (HSA):

HSA holders can choose to save up to $3,400 for an individual and $6,750 for a family (HSA holders 55 and older get to save an extra $1,000 which means $4,400 for an individual and $7,750 for a family) – and these contributions are 100% tax deductible from gross income.

Minimum annual deductibles are $1,300 for self-only coverage or $2,600 for family coverage.

Annual out-of-pocket expenses (deductibles, copayments, and other amounts, but not premiums) cannot exceed $6,550 for self-only coverage and $13,100 for family coverage.

MinimumDeductible

MaximumOut-of-Pocket

Contribution Limit

55+ Contribution

Single

$1,300

$6,550

$3,400

$1,000

Family

$2,600

$13,100

$6,750

$1,000

For more detailed information on HSA plans and taxes, visit the U.S. Department of Treasury website at www.ustreas.gov or talk with your tax advisor.